Golden State Wealth Management LLC Has $382,000 Position in Parker-Hannifin Corporation (NYSE:PH)

Golden State Wealth Management LLC grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 245.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 629 shares of the industrial products company's stock after purchasing an additional 447 shares during the period. Golden State Wealth Management LLC's holdings in Parker-Hannifin were worth $382,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PH. HUB Investment Partners LLC increased its holdings in shares of Parker-Hannifin by 15.7% during the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after purchasing an additional 1,057 shares during the period. Congress Wealth Management LLC DE grew its position in Parker-Hannifin by 67.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company's stock valued at $29,135,000 after buying an additional 18,503 shares in the last quarter. Washington Trust Bank increased its stake in Parker-Hannifin by 3,019.5% during the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company's stock valued at $9,881,000 after buying an additional 15,037 shares during the period. SG Americas Securities LLC increased its stake in Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after buying an additional 6,630 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Parker-Hannifin by 7.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,294 shares of the industrial products company's stock worth $42,801,000 after buying an additional 4,668 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.3%

Shares of Parker-Hannifin stock traded up $9.26 on Friday, reaching $700.97. 1,044,233 shares of the company were exchanged, compared to its average volume of 695,961. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market capitalization of $89.57 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 3.27 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $648.74 and a 200-day moving average price of $642.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 27.72%.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Barclays decreased their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.